Capital One Savor Credit Card Review

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From Seek Capital - Best for Cash Back

Welcome Offer

Earn $150 cash bonus

Earn $150 cash bonus after you use your new Card to make $500 on purchases in your first 3 months

Earn

3%Cash Back
Earn 3% cash back at restaurants
2%Cash Back
Earn 2% cash back on grocery purchases
1%Cash Back
Earn 1% cash back on all other purchases
$0Annual Fee
There is no annual fee for the Capital One Savor Card

Capital One Savor Cash Rewards Credit Card

The Savor℠ Cash Rewards card from Capital One doesn’t disappoint. If you love to dine out or groceries are a major line item in your budget, this card will be right at home in your wallet. Cardholders enjoy up to 3% cashback on every purchase, an easily accessible cash bonus just for using the card, and a balance transfer option that will tempt you to dump your other cards immediately.

Rewards Highlights

  • No Annual Fee
  • No Foreign Transaction Fee
  • 0% Introductory Purchase APR for 15 Months
  • 0% Introductory Balance Transfer APR for 15 Months
  • 3% Cash Back at Restaurants
  • 2% Cash Back at Grocery Stores
  • 1% Cash Back on Everything Else

Expert Review

The Pros

  • No Annual Fee
  • No Foreign Transaction Fee
  • 0% APR on Balance Transfers and Purchases

The Cons

  • Minimal Signup Bonus

Recommended Credit Profile

Rates & Fees

  • Annual Fee$95
  • Intro Annual Membership Fee$0
  • Regular APR17.74% to 25.74%
  • Great ForRestaurantsGroceriesGas
  • Regular Purchase APR17.74% to 25.74%
  • Regular Balance Transfer APR17.74% to 25.74%
  • Cash Advance APR25.24%
  • Balance Transfer Fee3%
  • Cash Advance Fee$10 or 3%
  • Foreign Transaction Fee0%

Signup Bonus

New cardholders who spend just $500 on purchases during the first 90 days of owning this card get a one-time cash bonus of $150. That’s more than enough for a nice dinner out or several beautiful meals at home.

Even if you only use this card for dining out and groceries, you can score the cash bonus with as little as $50 per week in purchases.

How to Get Up To 3% Cash Back

When it comes to rewarding cardholders for enjoying a night out, this card has your best interests in mind. The straightforward 3% cash back reward is good on all charges you make with the card in restaurants.

While many cash back rewards credit cards cap the cash back earnings by quarter or by year, this one gives cardholders unlimited rewards. This is amazing! There are no complicated programs to sign up for, no rotating spending categories, and you won’t have to wade through seventeen paragraphs of fine print to figure out how to get the rewards credited to your account.

It’s simple! You eat out, you use the card to pay the bill, you get 3% of your total purchase back in the form of a check or statement credit.

So, the $175 charge you make for a night out with dinner and drinks earns you $5.25. That’s enough to buy a nice big cup of single-source pour-over coffee at your favorite locally-owned café in the morning.

More Cash Back Rewards

If you feel like cooking at home, you’ll still get rewarded with 2% cash back on all grocery purchases. Again, Capital One® doesn’t cap the rewards, so go ahead and buy champagne to go with your strawberries.

Those with a weakness for emu eggs can stock up next time you are at Whole Foods. Scoring a nice little cash back bonus while shopping your local well-lit high-end grocery store is inspirational. Don’t forget to buy saffron for your next paella dinner party. Maybe grab an air plant for the centerpiece.

Go ahead and make this your most beloved new credit card and pay for every transaction with Savor℠. Even if you aren’t paying your bill in a restaurant, picking up takeout for a cozy night in, or treating your friends to your signature lasagna dinner, Capital One's Savor℠ card has you covered. You’ll get 1% cash back on all other purchases made with the card and there are not any limits or caps on the amount of cash back you can earn.

Let’s do some math. If you spend $400 per month on groceries, $300 per month on dining out in restaurants, $100 on drive-through and grab-and-go pizza, and just use the card for gasoline ($100 per month) and shopping ($300 per month) you’ll rack up $288 in cash back rewards during your first year of owning the card. Add your $150 sign-up bonus and you’re the proud recipient of a $438 financial boost from Capital One® Savor℠. This pays for a free round trip ticket to Miami.

If you spend 3x that amount of money, you’ll get $1,314 in cash back rewards. That’s enough for a long weekend road tripping through Napa, courtesy of your new favorite credit card. The flights and hotel room would all be paid for just by putting your everyday purchases on this credit card instead of paying by check.

Redeem When and How You Want with the Savor

Here’s another nice bonus: unlike some other rewards cards, the Capital One® Savor℠ card doesn’t impose a minimum redemption fee.

This means that if you spend $5,000 on your credit card in one month and want $150 in cash back, you can simply request it for the cash. Or if you spend $500 on your credit card that same month and want $15 back in your account, you can request it. There is no minimum redemption.

You get the cash how you want it when you need it most. The rewards are extremely flexible.

More perks from Savor℠

This card is a foodie’s dream-come-true, and it comes with the entire suite of World Elite Mastercard benefits. Here’s a sampling of what you can look forward to when you have this card in your wallet:

  • When you buy a product (excluding motorized vehicles and buildings) with an original manufacturer’s warranty, Mastercard doubles it up to a maximum of 24 months from the purchase date. If you choose to purchase an extended warranty of fewer than 24 months, Mastercard will add 24 months to the time limit.
  • If you are the victim of identity theft, you get 24/7/365 access to a Concierge Level Certified Restoration specialist who works on your behalf to handle documentation, phone conversations, and dispute resolutions. They’ll stick with it until your credit report and financial life has reached pre-victim status.
  • Access to 24/7/365 Concierge services that include trip planning, unique dining opportunities, and a reminder service. That’s right. You will never forget Aunt Helen’s birthday again.
  • Master rental insurance that covers you in case the rental car that you pay for with the card is damaged, stolen, or needs to be towed due to mechanical failure. Stranded in New Orleans? No problem.
  • Worldwide travel accident and baggage delay insurance that offers coverage for baggage delay as well as life insurance for accidents that occur while traveling. They exclude emotional damage due to delayed baggage, which can’t be quantified, anyway.

0% APR on Purchases and Balance Transfers

One of the most amazing perks of owning this card is the 0% introductory APR for the first nine months that the account is in force. So, once you get this credit card, you can go ahead and make that big purchase you have been waiting to make since you will have 9 months to pay it off with no interest to pay.

Imagine that you want to buy a new MacBook Pro. For the 13 inch version of the laptop it will cost you $1,299. You go to the Apple Store and put the computer on your Capital One Savor credit card. You would have to make payments of about $145 a month for 9 months to have the hottest computer on the market in your bag. This is amazing, because you are not paying any interest whatsoever.

If you decide to get this card, be sure to also transfer balances from those cards you’ve been meaning to pay off, too. Savor℠ cardholders get 0% APR for the first nine months on balance transfers and pay a small 3% fee on the total amount transferred.

If you have a balance of $5,000 on another credit card you might be paying an interest rate as high as 24%. In order to pay off the full balance + interest on the $5,000 you owe, you will have to pay $612.58 per month for 9 months. This is a total of $5,513 in payments.

If you transfer your balance to the Capital One Savor card and pay off the same $5,000 over 9 months, your monthly payment would be $555.79. So, not only are you saving over $50 a month, but you are also saving over $500 in total by transferring your balance to the Capital One Savor credit card.

No Annual or Foreign Transaction Fees

There’s also no annual fee on this card and no foreign transaction fees. Cards with this type of reward system usually hit owners with a $100+ per year fee. So yes, you can pocket that extra cash and eat your way across Europe while enjoying the hefty 3% cash back bonuses from Capital One® Savor℠ Cash Rewards Credit Card.

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